The four most common business structures are:

• sole trader
• partnership
• proprietary limited company
• trust.

Deciding on the best business structure is very important. It will significantly affect:

• your start-up costs
• taxation
• owners' liability
• succession
• ownership issues and disposal of business.

Find out more about business structures in the Protect section of the Toolbox.

Insurance in the Protect section provides you with more information on how to protect your business.